Regency Ceramics Ltd to acquire Segno Ceramics Pvt Ltd

Regency Ceramics Limited ("the Company") has proposed to acquire 100% stake, by way of purchase of equity shares from its existing shareholders/Promoters of Segno Ceramics Private Limited ("Segno") (SCPL) for a cash consideration, as per the terms and conditions agreed between the Company, Segno and the sellers.

Incorporated in 2011, SCPL manufactures ceramic tiles such as polished and unpolished glazed vitrified tiles. Its manufacturing facility in Vemavaran, Andhra Pradesh, has installed capacity of 10,000 square metre per day. SCPL has been acquired by new management i.e., Madhavi Edible Bran Oils Pvt Ltd, Mandapeta as per NCLT order dated 28th June 2021. SCPL is currently managed by Kalyan Chakravarthy Vanama.

Shares of Regency Ceramics Limited was last trading in BSE at Rs. 54.50 as compared to the previous close of Rs. 52.09. The total number of shares traded during the day was 2617 in over 10 trades.

The stock hit an intraday high of Rs. 54.50 and intraday low of 51.05. The net turnover during the day was Rs. 142450.00.

Source : Equity Bulls

Keywords

RegencyCeramics INE277C01012 Acquisition SegnoCeramics